anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

rekirk if invesco reduced their shareholding by 19m shares presumably they don't think mutch is likely to happen in the near future to push the sp higher.

Madagascar elections s/be this week -
After which we could possibly see some progress for SEY's large off shore interests there.
Share price has been a little stronger of late, and major shareholder changes happened.

Unusual activity today - what appears to be about 362,000 shares bought and only 12,000 sold. Previously hardly any deals done. ??

Market capitalisation about £84 m = Cash in bank about £84 m
All the rest of SEY is valued at about ....nothing !

Many more trades today than is usual.
Share price is up today 40p - 40.50p

Looks like SEY could be emerging from its long sleep at last ?

interesting article in shares mag partners with Exxon in Madagascar, bought a few today.

HALIFAX - what did the article say - I live in Benidorm and can mnot buy "Shares Mag" easily
SEY must be very ripe to be bought out - never understood why Afren does not buy it,
but better still if Exxon is showing more interest or even if exploration now is fast tracked, with Madagascar looking a little more plausible.

.

Sterling Energy updates on Ntem Concession

StockMarketWire.com

Sterling Energy said the declaration of force majeure over the Ntem Concession, offshore Cameroon, has been lifted, with exploration work having started on Jan. 22. There is a minimum work obligation of one exploration well in the remaining 15 months.

The concession had been under force majeure since June 2005 as a result of overlapping maritime border claims by the Republic of Cameroon and the Republic of Equatorial Guinea.

While the border claims remained unresolved, JV partners Sterling Cameroon Limited and Murphy Cameroon Ntem Oil Co., Ltd have now agreed with Société Nationale des Hydrocarbures, the national oil company of Cameroon, to formally lift the declaration of force majeure in order to allow exploration activities to proceed.

The Ntem Concession is a large, undrilled block, in water depths ranging from 400m to 2000m, in the highly prospective southern Douala - Rio Muni Basin, offshore Cameroon.



At 9:27am: (LON:SEY) Sterling Energy PLC share price was +6.38p at 48.38p


Story provided by StockMarketWire.com

SEY come to life after about three years sleeping.
NTEM is a very exciting license, and SEY in with a big partner - Murphy

I think Murphy are active in adjacent license areas -
Does anyone know ? I must explore about Murphy licenses in the area.
Could be Murphy knows something encouraging ?

SEY up from about 42p December 2013 to 55p buy now

10 February 2014



Operations Update for the Ntem Concession (Cameroon)



Sterling Energy Plc, the AIM listed oil & gas exploration and production company (AIM: SEY), is pleased to provide the following update for the Ntem Concession, offshore Cameroon.



The operator, Murphy Cameroon Ntem Oil Co. Ltd ("Murphy"), has confirmed that drilling operations have commenced on the Bamboo-1 well using the Ocean Confidence, a fifth generation semi-submersible drilling rig.



The well, located approximately 56 kilometres from the coast of Cameroon, has an estimated target depth of 4200 metres true vertical depth sub-sea (TVDSS) and will be drilled in a water depth of approximately 1600 metres. Drilling operations are anticipated to take approximately 60-70 days.



Sterling Cameroon Limited ("Sterling") has a 50% non-operated working interest in the Ntem Concession. Murphy will pay Sterling's share of the costs for the drilling of the Bamboo-1 well.



The Bamboo prospect is a basin floor fan target within the highly prospective Upper Cretaceous play. A series of stacked fan targets have been identified and will be intersected by the Bamboo-1 well with the primary objective estimated to have a mean un-risked, gross prospective resource of 422 million barrels of oil and 170 billion cubic feet of gas, a total of some 450 million barrels of oil equivalent.



Sterling Energy Plc.'s Executive Chairman, Alastair Beardsall, said:



"We are very pleased that we have commenced the drilling of an exploration well on the highly prospective Ntem Concession."

Bought more at 52p = Price seems reasonable to me considering upward potential and down side risk.

I think SEY still has probably around 35p cash in their bank if nothing found at Bamboo well, Ntem - . and Murphy Oil are picking up initial drilling costs.

If a couple of hundred million barrels oil and some gas found as SEY's half share,
then upward share price could be over ??? £4 per share ??? and then other Ntem wells.

( valued as oil equivalent in ground at ? $3 per barrel,could it be worth $800 million to SEY ????? - has anybody any more scientific guesses )

What is a reasonable oil find success rate ???? 20%
Down risk to 35p cash in their bank, and up potential over £4 per share
and say 20% success chance.

At current share price - Loose 30% - Gain 500% - 80% risk of downside and 20% risk of upside ?

I have held SEY for over 4 years. - exciting days ahead for next two months while drilling, may at least see share price up to 70p if you do not want to stay for the "kill",

Creeping up - now a buy at 53.50p

bit of ramping going on here £4???? do you need to recoup some earlier spending???

Yes - a lot. But honestly at an interesting drilling stage now with Ntem and Murphy

Price now buy at 56p

Has dropped back to buy 50p - but now more buyers than sellers - for a change
Drilling off shore Cameroon / Guinea should be finished about 20 April
They say could be 450 m boe - 50% I think is for SEY
SEY market cap presently about £110 million
What is 225 m boe in the ground worth - not all would be recoverable
Lets hope they find something -
but they say oil /gas has been found to the south and north

Interesting speculation just now

Big gamble here....could double in value if the seismic is correct...but it's mighty risky....don't bet the house on this one...

http://www.offshoreenergytoday.com/murphy-spins-drill-bit-offshore-cameroon/#.Uyw7h40itkw.hotmail

Cash in bank at 31 March 2014 = £71.5 m
Market capitalisation now = £62.5 m
Therefore £8.5 m more in bank than total company is valued

The downward risk should be limited, as cash in bank is worth more than Company capitalisation !

Pity they did not find oil off shore Cameroon, but still some possibilities
I will hold still ( been a holder now for about 5 years ) and am staying in SEY, as the management now seems more experienced and hopefully it will only be a matter of
time before we, the patient, will come across some good news and happier days

Sunny again in Benidorm today -

Its raining over here...